Repayment Deadline Pushed Back
In a new development, the trustee overseeing the Mt. Gox exchange, Nobuaki Kobayashi, has announced that the deadline for repaying the exchange's creditors has been extended. Originally set for October 31, 2023, the new deadline is now October 31, 2024.
Repayments to Begin Soon
Kobayashi also stated that for rehabilitation creditors who have provided the necessary information, repayments will begin as early as the end of this year. However, he emphasized that the schedule is subject to change based on circumstances, and the specific timing of repayments to each creditor is still to be determined.
The Mt. Gox Legacy
Mt. Gox, once one of the largest cryptocurrency exchanges, is known for its tumultuous history. In 2014, the exchange collapsed due to alleged insolvency after a major hack in 2011. This resulted in the loss of 850,000 BTC and affected about 24,000 creditors. At present, the Mt. Gox estate holds around 142,000 Bitcoin, 143,000 Bitcoin Cash, and 69 billion Japanese yen.
This is a developing story, and further information will be added as it becomes available.
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